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B-CR-TEO
New billionaire L.A. Times owner
inspires mix of hope and concern

Associated Press, by Brian Melley

Original Article

Posted By:LittleHoodedMonk, 2/8/2018 8:52:18 PM

Los Angeles - The struggling Los Angeles Times found a local savior in a biotech billionaire willing to buy the storied newspaper from a corporation half a continent away, but the change of ownership brings its own set of questions and uncertainty. Patrick Soon-Shiong agreed to pay $500 million and assume $90 million in pension liabilities for the Times and San Diego Union-Tribune, Tronc Inc. announced Wednesday. The news was met with a mix of optimism and skepticism by those who have seen the fourth-largest circulation newspaper in the country plagued by cutbacks and circulation declines and roiled by leadership changes in

Comments:
Happened yesterday, and hardly a ripple. Buying the LA Times and San Diego Union-Tribune on the left coast could either change things, or cement them like "fake news" liberal outlets.

      


Post Reply  

Reply 1 - Posted by: Nevadadad46, 2/8/2018 9:59:59 PM     (No. 11538114)

Is there any salvage opportunity here? In order to salvage something, you have to have something worth salvaging. I seriously doubt the LA Times can be that thing- nothing left of it. Old tree papers are about as useful today as steam engines were in 1968

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Reply 2 - Posted by: greggojo, 2/8/2018 11:10:59 PM     (No. 11538148)

Not that long ago, when one of the Koch brothers expressed interest in buying the LATimes, almost the entire news and editorial staff threatened to quit if Koch was allowed to do so.

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Reply 3 - Posted by: samnj, 2/8/2018 11:11:53 PM     (No. 11538149)

Release the Khalidi tapes!

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Reply 4 - Posted by: Simpleman, 2/8/2018 11:23:51 PM     (No. 11538155)

...Soon is LATimes biggest advertiser...he’s also quite adept at self-promotion on the “public benefit” podium with no actual follow thru. He’ll use this as a platform to posture for real estate and stock deals while containing any possible venue for scrutiny. There’s a billion dollars of opportunity in this transaction for him ... the LA times is a rag but even a rag can be a cover to conceal the ugliness underneath.

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Reply 5 - Posted by: Spidey, 2/9/2018 6:23:53 AM     (No. 11538260)

Only liberals would unionize while their employer is hanging on by a thread.All these big newspapers exclude half their potential customers by being so left wing.They probably wind up giving unsold copies to homeless people for TP.

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